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HP to Acquire Logoworks, a Web-based Design Service Company for Small Businesses

Wednesday, April 25, 2007

Press release from the issuing company

PALO ALTO, Calif.-- HP today announced it has signed a definitive agreement to acquire Arteis, a privately held company that operates Logoworks, a leading distributed web-based graphic design service provider. HP plans to leverage Logoworks' technologies and services to provide small businesses with access to professional design solutions at a fraction of market cost. Supported by hundreds of graphic designers worldwide, Logoworks' affordable packages range from simple logo design to the development of a full suite of marketing collateral. "Today's small businesses are increasingly turning to the web for marketing tools and services that strike a balance between affordability and quality," said Vyomesh Joshi, executive vice president, Imaging and Printing Group, HP. "By adding Logoworks' web-based graphic design service to our portfolio, HP can now provide the right mix of cost savings, flexibility and professional quality to help make a small business look big." Arteis, based in Lindon, Utah, also owns LogoMaker, a do-it-yourself design application for customers with a more limited budget. HP plans to greatly expand and enhance both Logoworks (www.logoworks.com) and LogoMaker's (www.logomaker.com) simple-to-use web-based design services and use independent print service providers to help deliver a great value to customers. The acquisition is subject to customary closing conditions and is expected to be completed in HP's third fiscal quarter. Financial terms of the transaction were not disclosed.




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